what form do I need to transfer real property from two individuals into an llc?

Question

We purchased some property as tenents in common and now we would like to transfer them into an LLC. What form do we use? The property is in California and looking on the internet, I found a few forms that seem like they would work. Wouls it be a warranty deed transfer or a quit deed transfer? Any help would be great. Thanks!

Answer 1

This is not hard at all. To do it correctly all you really need is a quit claim deed, it is cheap and you simple go before a notary sign the deed. After which you would take it to the county in which you reside for recording.

The best way to do it, without any future potential problems, you should look in the telephone book, call a local title company tell them what you want to do and allow them to do the recording for you.

They have all the necessary legal forms to accomplish what you want to do. It will cost a bit more but it is well worth it in the long run and scheme of things. They will also do the recording for you at the county recording office and the best reason of all is that you will know that it is done correct.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

Please push aside Dr Deth's answer because of the fact it extremely is heavily fake. you may actually flow the valuables into an LLC and rather, i could enormously recommend it. there is virtually no decrease to the criminal duty you may open your self as much as as quickly as you have a tenant renting your components. you purely under no circumstances comprehend whilst your next tenant starts off a meth lab indoors the basement. that's a concern-unfastened attitude for asset danger-unfastened practices applications and does not even could prefer to complicate your tax concern as long on the grounds that's a SM LLC and a disregarded entity. with the aim to maintain it separate as properly the shown actuality that, you do choose a thoroughly asset maintain LLC with a stable working settlement. you will additionally choose a economic organisation account and you will could prefer to redraw the residence settlement indoors the LLC call and function the tenants pay the LLC the hire. I paintings with consumers continually forming LLC's and deed transfers in actuality for this purpose.

Answer 3

In California, you use a quit claim deed. Also, make sure your LLC has provisions for what happends if one of you dies, gets divorced (very important in California),is disabled and no longer isable to contribute to the mortgage or if one of you wants out of the LLC or property (a departure clause).

Regards